CDC: Fossil Fuels

Foreign, Commonwealth and Development Office written question – answered on 19th July 2021.

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Photo of Preet Kaur Gill Preet Kaur Gill Shadow Secretary of State for International Development

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what steps CDC Group has taken to help ensure that its investments in financial institutions are not used to fund fossil fuel related projects.

Photo of James Duddridge James Duddridge Parliamentary Under-Secretary (Foreign, Commonwealth and Development Office)

In July 2020, CDC launched its new Climate Strategy. Subsequently, in December 2020, CDC launched its Fossil Fuel Policy and Gas Guidance Tool, which is fully aligned with the UK Government's fossil fuel policy.

CDC has published its approach including to Financial Institutions here: https://www.cdcgroup.com/en/news-insight/news/announcing-our-new-fossil-fuel-policy-and-guidance-on-natural-gas-power-plants/

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